Zcash Currency to Split from Zcash
Zcash has already contributed to its fair share of controversy within the ever-changing world of cryptocurrencies. For the most part, the company and its currency have been hit with the same security and legality critiques that are imposed against most privacy-centric cryptocurrencies. Since the main objective of coins like Zcash is to guarantee the privacy of the crypto owner, it becomes very easy for malicious businessmen to use the currency to facilitate very serious crime online.
But Zcash seems to redouble its interest in creating a completely independent and decentralized private currency. The company announced last week in an interview that intends to use the Parity platform to split the Zcash currency from the full start of Zcash. In this way, if successful, it will allow the currency to operate in complete autonomy with respect to the internal mechanisms of the startup company that created it. The implications are enormous, as this would make the cryptocurrency a truly decentralized privacy currency on the blockchain.
The process would be relatively simple. Parity Technologies would work with the Zcash Foundation to create a new Zcash node that would not be managed or built by the startup company that supported Zcash. The Zcash company behind it is called Zerocoin Electric Coin Company. Founded and led by Zooko Wilcox, the organization was commissioned to release, update and promote the private currency of a coin with a similar name, Zcash.
Open Source Future
The future of Zcash is decidedly open-source. According to the company, the split will culminate in the recruitment of four new engineers who will be specifically paid to monitor and innovate open source projects that facilitate the creation of Zcash's recently decentralized future. Two Parity partner engineers will be solely responsible for creating the brand-new, fully decentralized Zcash node.
Parity's CTO also spoke of the importance of Zcash in the general cryptographic space, stating that the privacy-oriented currency is one of the few "knowledge-oriented approaches" to the issue of privacy in an increasingly non-private and excessive context – transparent world The approach of trying to reach a zero knowledge protocol is not unique to Zcash, but it is clearly an advantage for the currency interested in privacy.